Mortgage nonpayment have reached a record level
7 March 2008About one million people, who took hypothec credits in the USA, have appeared insolvent and now they are deprived the right of the mortgage repayment, is a record since 1953, that is for all time during which the similar statistics is conducted. Such information has been represented in research of US of savings and loans association.
Actually those, who more not in a condition to pay off under the credit, it can appear more as the association considered only 80 % of all delayed credits that makes 46 million loans.
According to association, the quantity of credits, on which the process of deprivation of the mortgage repayment right only begins, makes 0,83 %, that is almost 382 thousand credits.
The heaviest situation has developed in so attractive to purchase of the real estate states, as California and Florida. 21 % of all delayed credits in the USA relate to these two staffs, thus the quantity of the begun processes of deprivation of mortgage repayment right makes 30 % from the whole on the country.
It is obvious, that not prices reduction for the real estate, but the reasons and the level of reduction of prices differs from state to state stands behind increase in volumes of deprivation of the mortgage repayment right. In such staffs as Ohio or Michigan, reduction in demand for habitation is caused by growth of unemployment … in California, Florida, Nevada and Arizona it is caused by too many constructed houses.
